Mar
12
Blog Post #6 – Jia Jun (Jay) Wu
March 12, 2015 | Leave a Comment
You get what you pay for. That’s the price of living in New York City, for all its lights and sounds, convenience, and reputation. And maybe opportunity? NYU Furman Center’s article on rent in New York City really showed some grave news for the lower income renter. With rent rising (11%) and income stagnating (2%), I wonder how many people can still afford to live here and why people continue (or not) to move here.
Seeing some of the numbers was surprising. A median gross rent in 2013 in New York City of just over $1200 is not a bad deal at all. Where can I find something this affordable? Just a simple Google search yields many rentals coming in at the $2000s and $3000s range. Some, in the prime locations of Manhattan, show prices of $5000 and even greater unfathomable numbers. So I’m a little skeptical about $1200. Even if I can find something at that price, I can guarantee the home and the surrounding area wouldn’t the greatest. This number doesn’t exactly show the whole picture of the standard of living.
Furthermore, the article discusses how rising rent levels impact low-income renters more. I think that’s an understatement. I wasn’t too startled by the “rent burdened” and “severely rent burdened” ratios. But if I were to think of my future after I graduated in a realistic manner, I would not be excluded from these categories. Theoretically, I would live in my comfortable rental apartment in New York City (not reaching too high either – $2000) and have an entry-level “professional” job. Still, I would probably belong to the “rent burdened” category. It’s a sad reality that except for the few fortunate people, many will simply not get to live where they want, even if they were considered to be middle class.
Especially now that the new market calls for luxury apartments, New York City is becoming a city for the rich. The poor are being driven away. Affordable housing is too scarce to support the number of people who need it to stay in New York. This culminates in the stark differences in the income and overall healthy of neighbors. I’ve always wanted to own a slice of New York City. But that dream seems to drift farther away with each passing day. My dream of a nice two-bedroom apartment became a studio, then a micro-apartment, and is now off the island altogether. Is New York City the place to be anymore?
My English professor always said, “We’re stuck in the system.” Now I’m finally beginning to understand what was meant behind those words and the sarcastic smile.
